GOP candidate for Pa. treasurer criticizes McCord

HARRISBURG — The Republican candidate for state treasurer says Democratic incumbent Rob McCord is too willing to take risks and pay unnecessary management fees in investing tens of billions of dollars in state pension money.

Diana Irey Vaughan, a Washington County commissioner, says a more conservative approach is needed to help close the growing gap between funding and benefits in the state’s two major public pension funds. By law, the treasurer has a seat on both boards.

Vaughan provided no specific proposals for changes, but charged that McCord — a venture capitalist before he was first elected in 2008 — brought a “risky Will Street” mindset to the treasurer’s office.

McCord’s spokesman did not immediately respond to a request for comment.